Neo Ivy Capital Management Makes New $3.72 Million Investment in Quest Diagnostics Incorporated (NYSE:DGX)

Neo Ivy Capital Management bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,681 shares of the medical research company's stock, valued at approximately $3,723,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vega Investment Solutions acquired a new position in Quest Diagnostics in the 4th quarter valued at about $1,133,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Quest Diagnostics by 14.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,002,379 shares of the medical research company's stock valued at $151,219,000 after buying an additional 128,285 shares during the period. Woodline Partners LP grew its holdings in Quest Diagnostics by 6.7% in the 4th quarter. Woodline Partners LP now owns 504,596 shares of the medical research company's stock valued at $76,123,000 after buying an additional 31,535 shares during the period. Victrix Investment Advisors purchased a new stake in Quest Diagnostics in the 4th quarter valued at about $241,000. Finally, Vident Advisory LLC grew its holdings in Quest Diagnostics by 31.7% in the 4th quarter. Vident Advisory LLC now owns 2,423 shares of the medical research company's stock valued at $366,000 after buying an additional 583 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

Shares of DGX stock traded up $2.48 on Tuesday, hitting $173.71. 1,048,425 shares of the stock traded hands, compared to its average volume of 1,249,886. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The company has a market capitalization of $19.39 billion, a PE ratio of 22.59, a PEG ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a 1-year low of $135.47 and a 1-year high of $179.99. The company's fifty day moving average is $170.43 and its 200 day moving average is $164.39.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.84%. Quest Diagnostics's payout ratio is 40.46%.

Insider Activity

In other news, SVP Michael E. Prevoznik sold 528 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the sale, the senior vice president now directly owns 39,031 shares of the company's stock, valued at $6,737,140.91. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Catherine T. Doherty sold 824 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $172.61, for a total value of $142,230.64. Following the sale, the executive vice president now directly owns 69,178 shares of the company's stock, valued at approximately $11,940,814.58. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,985 shares of company stock worth $9,147,802 over the last 90 days. 8.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on DGX. Barclays lifted their price target on Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, April 23rd. Redburn Atlantic assumed coverage on Quest Diagnostics in a report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price for the company. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird boosted their target price on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Piper Sandler boosted their target price on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of "Moderate Buy" and an average target price of $185.73.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.